wealth

According to Lan Qingxin of the University of International Business and Economics, most Chinese millionaires are minted in six sectors: finance, real estate, information technology, commercial service, manufacturing and energy. Read More

Although Beijing's multimillionaires make up less than 1% of its total population, their spending power makes them a key demographic for luxury automakers, fashion labels, auction houses, and, increasingly, luxury furniture makers. Read More

CNN posted an interesting video today about the growing number of mainland Chinese shoppers flocking to Hong Kong to buy luxury goods, much to the enjoyment of Hong Kong retailers and international luxury brands alike. Read More

With China surpassing the United States last year to become the world's second-largest luxury market, Chinese luxury consumers have become industry darlings. However, it's no longer just the top European luxury brands who have their sights set on these buyers. Read More

This week, the Thai hypermarket chain Lotus opened its first "luxury" hypermarket, in an attempt to meet the demand of wealthy Shanghainese (and foreign residents) for more premium and imported goods. Read More